China's top offshore oil producer CNOOC posted a 11.4 per cent slide in its 2013 net profit yesterday, lagging analysts' forecasts, as it struggled to deliver production growth and control costs amid weakening crude prices.
Canada approved China's biggest foreign takeover, the $15.1 billion bid by CNOOC for energy company Nexen, after the Chinese giant agreed to conditions, but drew a line in the sand against future purchases by state-owned enterprises.
Saudi Aramco, China Petroleum & Chemical Corp (Sinopec) and CNOOC are in talks to buy up to 30 per cent stake in North American oil and gas services company Frac Tech International in a deal worth about $2.2 billion.
Frac Tech has hire
France's Total has acquired a 25 per cent stake in Qatar's Block BC offshore exploration license, state-owned Qatar Petroleum said in a statement on Sunday.
Located 130km east of the Qatari coast, the offshore block covers an area of 5,649
BP said it had agreed to sell its stake in Argentina-based oil and gas group Pan American Energy (PAE) to Bridas Corp, half-owned by China's CNOOC, for $7 billion, as it raises cash to pay for the Gulf oil spill.
The planned sale of the 60
China's Sinopec Group and CNOOC are bidding for stakes in assets owned by Brazilian oil and gas start-up OGX SA in a potential $7 billion deal, sources with direct knowledge of the matter said on Friday.
OGX, part of the EBX industrial
Iraq's Oil Ministry signed a final deal with China's CNOOC and state-run Turkish Petroleum Corporation (TPAO) on Monday to develop the 2.5-billion-barrel Maysan oilfield complex.
The deal is the 11th of a series
Iraq plans to sign a final deal with China's CNOOC and state-run Turkish Petroleum Corporation (TPAO) to develop the 2.5-bilion-barrel Maysan oilfield complex on Monday, a senior oil official said.
China's Sinochem is no longer a part of t
Iraq has signed an initial deal with China's CNOOC and Sinochem to develop the 2.5-billion-barrel Maysan oilfield complex, Oil Minister Hussain Al-Shahristani told Reuters on Sunday.
A final deal with both companies will be signed in t
China's largest listed offshore oil and gas producer CNOOC said Wednesday that its first-half net profit fell 55 per cent on the back of lower oil prices.
The China National Offshore Oil Company (CNOOC) said in a statement that its net pro